Why is IOL Chemicals falling/rising?

As of 29-Aug, IOL Chemicals & Pharmaceuticals Ltd is experiencing a decline in its stock price, currently at 90.65, which reflects a decrease of 0.25 or 0.28%. The stock has been on a downward trend, losing value for the last five consecutive days with a total decline of 7.69% during this period. Additionally, the stock's performance over the past week shows a significant drop of 6.69%, while it has also underperformed in the last month with a decrease of 2.89%. Despite these short-term challenges, the company has a low debt-to-equity ratio of 0.01, which is a positive factor, and there has been an increase in institutional investor participation, with a 1.08% rise in their stake over the previous quarter.
In the broader market context, the stock's recent performance contrasts with the benchmark Sensex, which has only declined by 1.84% over the past week. This indicates that IOL Chemicals is underperforming relative to the market. The falling investor participation, evidenced by a 26.34% drop in delivery volume compared to the five-day average, further suggests a lack of confidence among retail investors. While the stock remains liquid enough for trading, the combination of declining short-term returns and reduced investor activity may be contributing to the stock's current downward trajectory.